PANews May 2 news, according to The Information report, U.S. Commodity Futures Trading Commission (CFTC) Chairman Michael Selig is pushing to limit state intervention in prediction markets to prevent state-level regulatory measures from hindering the industry's development.

Since taking office several months ago, Michael Selig has quickly set to work on related matters, trying to create a more lenient federal regulatory environment for prediction markets, so that more American users can participate in betting transactions on sports events and other outcomes. As a sports fan, Michael Selig's office is filled with numerous sports memorabilia, including Philadelphia Eagles merchandise related to his hometown of Philadelphia, which is seen as a reflection of his long-term interest in the sports betting market.

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